Top Recent Developments that lead to the ConforMIS Inc (CFMS) stock back on its track:

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How CFMS performed:

During a pandemic, different companies suffered from major losses. According to a study, there was a 53% reduction in adult heart surgeries. There was a 40% drop in non-elective and 65% drop-in elective heart surgeries during this pandemic. The recent news about reopening and resuming elective and non-emergency surgeries provided some oxygen to the surgeries-related companies.


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Top 3 Developments That Boosted the CFMS Stock:

  1. a) Virtual Investor conferences:

On 25th February, the company management announced that Mark Augusti, Chief Executive Officer, and Bob Howe, Chief Financial Officer, will participate at two upcoming virtual investor conferences. Similarly, the management will also do one-on-one meetings throughout the conference that will help in the confidence-building of investors.
From March 16-18, the Oppenheimer 31st Annual Healthcare Conference will take place virtually. Furthermore, a live webcast of the presentation will be available at https://wsw.com/webcast/oppenheimer9/cfms/2708189.

  1. b) SITES Medical Firm Joining

Furthermore, the SITES medical firm, which is dedicated to inventing and de-risking new orthopedic medical device technologies, also joined the CFMS company. Both partners will work together that will eventually result in their mutual growth.

  1. c) CFMS Clearance of total knee replacement system

Additionally, on 1st March 2021, the CFMS company announcement about the clearance of total knee replacement system. This announcement led to an immense boost of the stock. This boost was seen on Tuesday when the shares of medtech Condformis surged more than 17%. This announcement also forced the investors to join hands of the CFMS stock that can be seen as their positive growth during their last months. In a press release, the company management said, “Receiving clearance for our iTotal® PS product in Australia will allow us to offer a best-in-class, patient-specific solution to relieve patients’ chronic knee joint pain,” said Mark Augusti, President, and CEO. “With this clearance, we have greatly expanded the number of potential patients who will be candidates for our personalized knee replacement implants, and we are thrilled to offer the benefits of our unique technology to surgeons in Australia who prefer a posterior-stabilized design to a cruciate-retaining one”.

Conclusion:

Companies find their track when they either join other companies or revised their policies. CFMS find their track back when the SITES medical firm joined them. Another boost that they got was from recent clearance of total knee replacement system. A new invention or product always attract the audience for the up-gradation of their work and efficiency.

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